Essar Steel to set up 4 MTP steel plant in Orissa

Bhubaneswar, Apr 25 (UNI) Essar Steel Ltd, a unit of the Essar group, today said it was committed to setting up a 4 million tonne integrated steel plant in Orissa at an estimated investment of Rs 10,700 crore.

The proposed plant with state-of-the-art technology would be set up in the port town of Paradeep, for which the Company had already identified over 2000 acres of land near the erstwhile Oswal Fertiliser plant.

A company release said it had already desposited requisite administrative charges with IDCO to acquire the rquired land for establishing the plant.

"The land acquisition process was going on very well with adequate support from IDCO and the Jagatsinghpur district authority," the sources said.

The company planned to start its construction work before the onset of monsoon. The steel project using blast furnace route is expected to be commissioned in next 5 years.

The release further clarified that the present expansion work of the existing Hazira steel plant of Essar group in Gujarat would in no way affect the setting up of the Orissa project.

The Orissa Government has been extending excellent co-operation and support for setting up the paradeep Steel plant, an Essar spokesman said adding the Company was committed to staying in Orissa and play a vital role in the socio-economic development of the state and its people.

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